Well, today is the deadline to sign up for Medicare Part D. Can anyone tell me why there needs to be a deadline? Why if you don't sign up today, you have to wait until November? Why you have to pay a penalty for life if you don't sign up today?
None of this makes any sense to me. I'm sure it's a way to save a few bucks, but what kind of government policy works this way?
Update: NPR help me sort this out this morning. Apparently, not enough healthy seniors are signing up for a benefit they don't need yet. The deadline and penalty must be there as a carrot and stick incentive to get them to sign up. The insurance industry needs about 90% of seniors to sign up even with government subsidies, and the percentage of seniors that has signed up thus far is only about 75%. Could be a big problem for the insurance industry.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment